The Dow Jones Industrial Average rose 271.58 points, or 0.78 percent, to 35,064.25. The S&P 500 was up 26.44 points, or 0.60 percent, to 4,429.10. The Nasdaq Composite Index increased 114.58 points, or 0.78 percent, to 14,895.12.
Nine of the 11 primary S&P 500 sectors ended in green, with energy and financials up 1.28 percent and 1.24 percent, respectively, outpacing the rest. Materials and health care, however, struggled.
U.S.-listed Chinese companies traded mostly lower with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
The above market reactions came as data showed the number of Americans filing for first-time unemployment benefits dropped last week.
U.S. initial jobless claims, a rough way to measure layoffs, registered 385,000 in the week ending July 31, a decrease of 14,000 from the prior week's revised level, the Department of Labor reported on Thursday. The reading was roughly in line with market estimates.
On Wednesday, U.S. equities closed mostly lower after payroll data company Automatic Data Processing said U.S. private companies added 330,000 jobs in July, far below analysts' forecasts.
The more closely-watched monthly employment report by the Department of Labor's Bureau of Labor Statistics is slated for Friday, which will include employment data from both the private sector and the government.
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